Real Estate Bust Hasn’t Dimmed Americans’ Faith in Real Estate

As reported by the Wall Street Journal

Despite an extended slump in real-estate prices, most Americans still believe homes are the best investment, according to this a survey released today by the Pew Research Center.

According to the results of a telephone survey conducted in March, Pew found eight-in-ten adults believed a home was the best long-term investment a person could make.

This isn’t to say that Americans faith in real estate is unflappable. The “intensity” of the public’s faith has fallen off, according to the survey, with 37% of respondents saying they “strongly agree” that homeownership is the best investment, compared with 49% from a CBS News/New York Times survey conducted two decades ago, Pew said.

There is also some evidence that the next generation views real estate with a more pessimistic eye. According to Pew: “Adults ages 65 and older are more sold on the investment value of homeownership than any other age group. Some 48% of this older cohort agree that homeownership is the best long-term investment a person can make, compared with 39% of those ages 50 to 64; 32% of those ages 30 to 49; and 35% of those ages 18 to 29.”